Intel Corporation (NASDAQ: INTC) Thursday reported a net loss for the first quarter of 2023 when the semiconductor firm’s revenues declined sharply. The company also provided guidance for the second quarter.
First-quarter revenues decreased 36% annually to $11.7 billion. The top line was negatively impacted by continued slowdown in the core Client Computing segment.
On an adjusted basis, Intel reported a loss of $0.04 per share in the latest quarter, compared to earnings of $0.87 per share in the first quarter of 2022. On a reported basis, the net loss was $2.8 billion or $0.66 per share, compared to a profit of $8.1 billion or $1.98 per share last year.
